Franklin Resources, Inc. (NYSE:BEN) Stock Rated “Hold” by Sell-Side Brokerages

Franklin Resources, Inc. (NYSE:BEN) has received a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $35.89.

A number of brokerages have issued reports on BEN. Zacks Research lowered Franklin Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Barclays raised their price target on shares of Franklin Resources from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. TD Cowen lifted their price target on shares of Franklin Resources from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Keefe, Bruyette & Woods began coverage on shares of Franklin Resources in a report on Wednesday, September 9th. They issued a “hold” rating and a $38.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Franklin Resources in a report on Monday, August 31st.

Institutional Investors Weigh In On Franklin Resources

Institutional investors have recently modified their holdings of the stock. First Community Trust NA acquired a new position in Franklin Resources in the third quarter worth $25,000. Compass Financial Management LLC acquired a new stake in shares of Franklin Resources during the second quarter worth $36,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Franklin Resources during the third quarter worth $35,000. Elevation Wealth Partners LLC lifted its position in shares of Franklin Resources by 179.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,181 shares of the closed-end fund’s stock worth $39,000 after buying an additional 758 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of Franklin Resources by 209.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the closed-end fund’s stock worth $39,000 after buying an additional 813 shares during the last quarter. Institutional investors and hedge funds own 47.56% of the company’s stock.

Franklin Resources Stock Down 0.1%

Shares of NYSE BEN opened at $31.98 on Wednesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.48 and a current ratio of 1.48. Franklin Resources has a 1 year low of $21.10 and a 1 year high of $36.28. The stock’s 50-day simple moving average is $33.63 and its 200-day simple moving average is $31.49. The firm has a market cap of $16.25 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 0.56 and a beta of 1.54.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings results on Friday, July 31st. The closed-end fund reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the business posted $0.49 earnings per share. Franklin Resources’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts anticipate that Franklin Resources will post 2.91 earnings per share for the current fiscal year.

Franklin Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Wednesday, September 30th. Franklin Resources’s dividend payout ratio (DPR) is currently 89.80%.

About Franklin Resources

Franklin Resources, Inc, operating under the Franklin Templeton brand, is a global investment management organization. The company provides investment solutions for individual investors, financial professionals, institutions and retirement-plan participants through a range of actively managed and specialized strategies.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investment strategies. Franklin Templeton offers capabilities spanning equities, fixed income, multi-asset investing, private markets and other specialized areas, with investment teams and brands serving different market segments and regions.

Founded in 1947 by Rupert H.